Moving away from ‘comply or else’

The FRC recently published their updates to the UK Corporate Governance Code and with it reiterated their stance on ‘comply or explain’. The Code does not set out a rigid set of rules and recognises that one approach does not necessarily suit all companies. While the concept is seen as one that must be protected by investors and companies alike, it has also attracted much attention with many voicing that it had become a ‘comply or else’ regime. So how do we move away from this and use the full breadth of what ‘comply or explain’ can offer and provide companies with the flexibility they need?

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